Goldman Sachs Group Inc. Sells 483,211 Shares of DT Midstream, Inc. $DTM

Key Points

• Goldman Sachs Group Inc. reduced its stake in DT Midstream, Inc. by 14.8%, owning approximately $268.05 million worth of shares after selling 483,211 shares.
• DT Midstream has announced a quarterly dividend of $0.82 per share, with a yield of 3.1%, to be paid on October 15th.
• The company's recent earnings report showed an EPS of $1.04, exceeding expectations, and analysts project a consensus target price of $110.67 for the stock.

Goldman Sachs Group Inc. decreased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,778,253 shares of the company's stock after selling 483,211 shares during the period. Goldman Sachs Group Inc. owned about 2.73% of DT Midstream worth $268,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after acquiring an additional 621,183 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of DT Midstream by 21.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company's stock valued at $152,712,000 after purchasing an additional 282,870 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in DT Midstream by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company's stock worth $119,326,000 after acquiring an additional 131,138 shares during the last quarter. Northern Trust Corp boosted its position in DT Midstream by 8.9% during the first quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock worth $111,615,000 after acquiring an additional 94,470 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of DT Midstream by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock valued at $110,790,000 after purchasing an additional 5,218 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the sale, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

DT Midstream Price Performance

Shares of DTM stock traded down $0.07 during mid-day trading on Friday, reaching $107.27. The company's stock had a trading volume of 474,326 shares, compared to its average volume of 650,006. The firm's 50-day moving average is $103.25 and its two-hundred day moving average is $100.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. DT Midstream, Inc. has a 1-year low of $75.56 and a 1-year high of $114.50. The company has a market cap of $10.90 billion, a P/E ratio of 28.76, a PEG ratio of 2.35 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the prior year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.82 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. DT Midstream's dividend payout ratio (DPR) is 87.94%.

Analysts Set New Price Targets

DTM has been the topic of several analyst reports. Mizuho lifted their price target on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Wells Fargo & Company raised their price target on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Stifel Nicolaus upped their price target on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Barclays boosted their target price on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley boosted their price target on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $110.67.

DT Midstream Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.